Some parents will tell you to avoid credit cards altogether, but there’s a better option: Get a card or two and make sure to pay them off every month. This will help you to both stay out of debt and to build your credit score, which is the backbone of your financial health.
Pro tip: Up the ante by using rewards credit cards , which can give you everything from cash back to travel discounts and discounted gas.
72
545 reads
CURATED FROM
IDEAS CURATED BY
Understanding these money truths can move you beyond living paycheck to paycheck and into financial stability.
“
The idea is part of this collection:
Learn more about personaldevelopment with this collection
How to overcome unwanted thoughts
How to manage intrusive thoughts
How to change your attitude towards intrusive thoughts
Related collections
Similar ideas to 8. Pay off credit cards every month
Carrying credit card debt is a great way to negatively compound your net worth. But credit itself is important.
Likely the biggest expense over your lifetime will be interest costs on your mortgage, car loans, student loans, etc. Having a solid credit score can save you tens of tho...
Credit card usage can lead to debt and the debt grows itself while unpaid. However, used responsibly, it's a good way to start building credit.
Most credit cards also have other benefits, such as rewards points, cash back, or travel points. But if you're incapable of payin...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates